CoinGecko has announced that it is launching its own cryptocurrency derivatives section.
The derivatives section will offer additional statistics so users can track more than 100 derivatives products that are offered by over 20 derivatives exchanges.
CoinGecko’s offering is the first of its kind
According to CoinGecko, this offering is the first to provide “free, unimpeded access to vital aggregated crypto derivatives data”, such as price, interest, funding rates, trading volume and more. CEO of CoinGecko, TM Lee, said:
“This year, we have observed strong growth in the crypto derivatives market. […] We are excited about the potential growth of crypto derivatives and look forward to further democratizing data access as we continue to commit to the maturation of the digital asset space.”
Announcing: CoinGecko Derivatives! 🥳🎉 At a glance, you'll see aggregated data for the derivatives market including pricing, funding, open interest, volume and more! Currently covering over 100 products traded across 22 different platforms! 😎 👉https://t.co/ZW1urjTTbf👈 pic.twitter.com/Cwu0eNL84H — CoinGecko (@coingecko) October 29, 2019
During September, the crypto derivatives market saw a rapid growth while reaching an all-time high. Bitmex, for example, passed $9 billion in daily trading volume, as Bitcoin (BTC) took a moonshot of more than 40% in a single day.
CoinGecko Upgrades to 2.0
On Sept 21. cryptonewspoint reported that CoinGecko, the company behind the coin market ranking chart app, is poised to update its “Trust Score” system to assist its rapid growth. “Trust Score 2.0” promises to increase transparency in the realm of cryptocurrency trading.
In the 2.0 version, the system is to use more complex metrics and measures and take a more global perspective. It will track four major areas: an exchange’s API technical coverage, their scale of operations, their presumed cryptocurrency reserves, and regulatory compliance.
Currently, CoinGecko ranks 363 exchanges, up from 45 exchanges only 18 months ago, marking a meteoric 706 percent rise in less than two years.
Source: Cointelegraph | Image: masternode.buzz